Roche Chairman to Leave

By

Marta Falconi

March 5, 2013 9:21 a.m. ET

BASEL, Switzerland—Roche Holding AG Chairman Franz Humer surprised investors Tuesday, saying he won't stand for re-election next year, ending his 16-year leadership of a company that has consolidated its focus on cancer drugs under his watch.

The Swiss pharmaceutical giant said it would nominate a successor later this year. The nominee would fill a nonexecutive spot on the board, maintaining the company's split between the chairman...